BoF Noyer: Stress Tests Reconfirmed The Solidity of the French Banking System

The EU stress tests give “the real picture” of the situation of European banks and confirm once again the solidity of the French banks examined, Bank of France Governor Christian Noyer said Friday. The results were predictable and in line with the numbers already obtained in tests regularly conducted in France.

“The principle characteristic of French banks is their excellent capacity to resist stress, since the application of the stress scenario at the end of 2011 caused them to lose only 0.5 to 0.7 percentage point of their Tier 1 ratio compared to their starting ratio on December 31, 2009,” Noyer said in a press release.